Crude oil prices rose in its recent intraday trading, challenging the key resistance level at $61.50, supported by a short-term bullish correctional wave and the emergence of positive signals from the Relative Strength Index (RSI). However, the price is also facing a strong obstacle, which is the resistance of the EMA50.

Gold price declined during intraday trading, as it attempts to gain positive momentum that may help it recover and rise again. Besides the attempt to get rid of some of the clear overbought conditions indicated by the Relative Strength Index (RSI), especially as some negative signals begin to appear, while the overall short-term trend remains strongly bullish.

The EURUSD pair rose steadily in its recent intraday trading, preparing to challenge the resistance level at 1.1470. This move is supported by the emergence of positive signals in the Relative Strength Index (RSI) indicators, following the pair’s successful absorption of overbought conditions, due to the domination of the short-term bullish trend.

GBPAUD continues providing bearish correctional trading by providing repeated close below 2.1035 level, to notice targeting new negative stations by hitting 2.0753 level.

By the above image, we notice stochastic reach to the oversold level, to increase the negative pressures on today’s trading, to increase the chances for targeting extra bearish stations that might extend towards 2.0620 reaching 23.6%Fibonacci correction level, to form new support against the negative trading.

The expected trading range for today is between 2.0620 and 2.0870

Trend forecast: Bearish